Unusual Machines (UMAC) stock is down 7.8% today, after soaring on Friday due to Donald Trump's drone tariff news, with analysts raising their price target to $35.
Shares of drone company Unusual Machines (UMAC) fell 7.8% at 10:38 a.m. ET, after an earlier drop of 10.3%. This follows Friday's surge to a 52-week high of $34.93, driven by former U.S. President Donald Trump's decision to impose new tariffs on imported drones and components. Despite ThinkEquity analyst Ashok Kumar raising UMAC's price target from $25 to $35 and maintaining a "buy" rating, the market appears to be opting for profit-taking.
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